Stockwatch

Mobilum Technologies Inc
Symbol	MBLM
Shares Issued	164,964,738
Close 2023-12-18	C$ 0.005
Market Cap	C$ 824,824
Recent Sedar+ Documents

Mobilum arranges $721,799 shares for debt deal

2023-12-18 17:43 ET - News Release

Subject: Mobilum Technologies - Dec 18 NR Word Document File: '\\swfile\EmailIn\20231218 143642 Attachment 2023_12_18_MBLM_NR Shares for debt transaction.docx' LEGAL*61182524.2 Mobilum Technologies Announces Shares for Debt Transaction VANCOUVER, BC, December 18, 2023 - Mobilum Technologies Inc. (the "Company") (CSE:MBLM) (OTC:MBLMF) (FRA:C0B) announces that the Company has entered into debt settlement agreements with Blockchain Lab S.A. and TTP Limited (collectively, the "Creditors"), pursuant to which the Company has agreed to settle indebtedness (the "Indebtedness") owing to the Creditors in an amount equivalent to CAD$721,799.65 based upon prevailing exchange rates. Pursuant to the agreed upon terms, the Indebtedness will be settled through the issuance of 6,808,000 common shares of the Company to Blockchain Lab S.A. and 65,371,965 common shares to TTP Limited, all at a deemed price of CAD$0.01 per common share. All securities issued in settlement of the Indebtedness will be subject to a statutory four-month and one-day hold period, and no commissions or finders' fees are owing in connection with the settlement. Completion of the settlement remains subject to the approval of the Canadian Securities Exchange and the shareholders of the Company. Wojciech Kaszycki, a director of the Company, is a director of TTP Limited and will have investment control and direction over any securities of the Company received by TTP Limited in settlement of the Indebtedness. Mr. Kaszycki is a member of the supervisory board of Blockchain Lab S.A. but does not have control and direction over securities of the Company it will receive. Mr. Kaszycki does not have ownership of any securities of TTP Limited or Blockchain Lab S.A., and as a result the settlement of the Indebtedness does not constitute a "related party transaction" for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Mr. Kaszycki currently holds 24,860,449 common shares of the Company. Following completion of the settlement of the Indebtedness, Mr. Kaszycki will also have investment control and direction over a further 65,371,965 common shares of the Company held by TTP Limited. Together, Mr. Kaszycki will have control and direction over 90,232,414 common shares of the Company which will represent approximately 38.1% of the outstanding common share capital of the Company. The Canadian Securities Exchange has determined the settlement will materially affect control of the Company. As a result, the settlement is subject to the approval of the shareholders of the Company. The Company intends to seek shareholder approval for the settlement at its annual general and special meeting of shareholders to be held on January 23, 2024. If shareholder approval is not received at the meeting, the Company will not proceed with the settlement of the Indebtedness at this time. Further information concerning the annual general and special meeting of shareholders will be made available in a management information circular to be mailed to shareholders of record. A copy of the circular will also be available under the profile for the Company on SEDAR+ (www.sedarplus.ca). About Mobilum Technologies Inc. Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B) is a technology currently developing new solutions and is currently engaged in licensing new software within AI and marketing technologies. The organization is no longer in the payment services space nor engaged in any activities related to cryptocurrencies. Mobilum has its office in Canada. SOURCE Mobilum Technologies Inc. Related Links https://mobilum.com For further information: please contact John Henderson, +1 (250) 809-5909 or via email at ir@mobilum.com This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations. Contact Information: Investor Relations John Henderson, COO & Interim CEO and CFO Phone: +1 (250) 809-5909 Email: IR@mobilum.com